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November 13, 2011

Earlier tonight, I read a tweet by Mr. @GSElevator that said, "Don't confuse friends, work friends and friends of convenience." It struck a cord and so I thought I would waste some of your time with my ramblings on why I agree with that statement. I started valet parking when I was nineteen because I was in college and during my first semester at school I blew my entire savings account partying and gambling. How that happened, I'll save for another time. Either way, I got a job valet parking for a medium size valet company in the Twin Cities. I worked seven nights a week for almost nine months straight to get my shit back in order, as I did have a truck, insurance, parking, cell phone among some other bills. Along came summer, and the valet company was accepting applications for an internship. I submitted an applications. I had to choose to intern and continue valet parking or go back to construction working while school was out. I was going to a business school, economics degree, so I thought the better decision was to intern, after all these bullshit internships are what many deemed important and crucial as it added to your resume and helped in finding a 9 to 5 desk job after college. Well I got it and so it started. I interned all summer and as the summer wore on, more and more responsibility piled on. I was fine with it. As a result, some office employees were let go and again my responsibilities grew even more. I had initiative and worked hard. While, my pay never increased that summer, I did make the schedule for 100+ valets...making my schedule was great. Fast forward about a year and there was five people in the office. Our two owners who knew nothing about the business or how valet really worked, our VP of Sales and Marketing, Myself who became the General Manager and our payroll manager. Before we hired our payroll manager, I did that as well. My responsibilities had no end. I pretty much did everything. I had over 200 Valet Supervisors and Valets that reported to me. I had restaurant, hotel, night club, Health Care facilities, and private event managers that had my cell and called me when something wasn't going right. Again the pay sucked ass, but I didn't care. I made the schedule and worked where I wanted when I wanted. Trust me when I say, it made up for the lousy salary. For a long time I looked at one of our owners as a mentor. We talked all the time. He taught me a lot. At one point, I think I would've considered him a friend and thought about working with him on other business ventures. In hindsight, I am glad I didn't. I hired a kid to work as a valet that eventually scheduled a meeting with our owner to talk about business...owning one, running one, etc. He was hired as an intern for our owner's other business. Some lame bull shit printing company. This kid helped with both our valet company and the printing business. We got a long, mainly because he did what I told him to and he was never late. I don't know where or when it happened, but the kid thought he deserved my job and became a snake. I have no idea what he told our owner and if any of it was true or not. All I know is that our owner believed it. This kid had it out for me and everyone that I had hired. Still to this day, not sure why. I personally think, they thought I was stealing. In what way, I don't know. Because I didn't I knew how how to hustle and make money. I didn't need to steal. but whatever, I will never get an answer. The last year that I was with the company I did a lot of butting heads with our owner. I didn't like the way he treated our employees and the way he ran a business. It was shady to say the least. After five years of running the company, tripling it in size, working eighty hour weeks it was decided that I needed to go. For a long time my delusional thinking told me that I was irreplaceable. No one could do as good of a job handling everything I handled and as a result operations running smooth and seamless. What was the reason? I still don't know. The answer I was given was that I was late twice with a weekly review letter and I didn't respond to one phone call. I thought my relationship was stronger and there was more respect for one another. Letting and believe a chirping bird, it's all water under the bridge. Trusting someone, especially an employer or someone trying to clime the hierarchical latter is suicide. Don't get it twisted, Do not confuse friends with work friends and or friends of convenience. Unfortunately for me, I had signed a one year non compete. I thought for a second if I really wanted to, I could get all 200 valets to quit, strike or what ever. Again delusional thinking. They were all work friends. They loved me as a leader because of how I ran things, I in a sense controlled their schedule/income. I highly doubt they would've had the faith in me to start and retain clients in a short time frame. They had no choice but to keep quiet and do their jobs in fear that they may lose it if this new G.M. found out he/she was "friend" of mine. I packed my truck with my computer and a small amount of clothes, and off to AZ I went to trade on a prop desk. I don't really feel like getting into a long a long analogy of how or why this relates to trading other than this. No one will ever care about you or your trading account the way you do. You think if you whine enough after blindly following someone into a losing trade they will give you the money you lost? I doubt it. What is a friend? It is a person attached to anotherbyfeelingsofaffectionor personal regard. I consider a close friend one that I would lend money, and not worry about getting paid back. I can say that I have three. How many do you have? Having 500 Facebook friends or 10,00 twitter followers doesn't man jack shit. In my opinion in this life there are winners and losers as in trading. You have the power and ability to chose which to be. No one else cares.

Falling right back into this rising channel after its earnings gap up move. Don't really like this chart but will remain on watch list. Interested to see how it acts near 50d if it pulls back that far. Inside day on Friday on less than average volume.

If you look at the weekly, it did pull back and held its 10week moving average.